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2014 (6) TMI 825 - CESTAT AHMEDABADConfiscation of goods - provisional release of the seized goods in the factory premises - Execution of bank guarantee - Held that:- Finished goods which are ready for dispatch are goods which are meant for export as well as for home clearance. As regards the raw material, we do find that the Commissioner (Appeals) has recorded that most of the raw material is procured against advance licences. Needless to say that when the goods are procured against advance licences, they are secured by way of bond to the Customs authorities. To that extent, Revenue's interest seems to be secured. Even if the raw materials which, according to the Revenue, are unaccounted, the said raw materials having been recorded as stock available with the assessee, can be accounted for, subsequently in records and consumption can be watched. We agree with the view of the ld. Commissioner (Appeals) that the order of releasing the goods on executing the bond backed by a bank guarantee shall not come in the way of investigation which is being carried out by the Department and they may do so. - the bank guarantee should be executed for Rs.20 lakhs. - goods to be released provisionally - Decided conditionally in favour of assessee.
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